Equitable Trust Co. Purchases 165 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Equitable Trust Co. raised its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,801 shares of the medical equipment provider’s stock after purchasing an additional 165 shares during the period. Equitable Trust Co.’s holdings in Align Technology were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. KB Financial Partners LLC bought a new stake in Align Technology during the 1st quarter valued at $26,000. Cornerstone Planning Group LLC purchased a new position in Align Technology during the 2nd quarter worth $29,000. First Manhattan CO. LLC. grew its stake in Align Technology by 593.8% during the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 95 shares during the last quarter. Huntington National Bank grew its stake in Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 56 shares during the last quarter. Finally, ST Germain D J Co. Inc. purchased a new position in Align Technology during the 2nd quarter worth $44,000. 88.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Align Technology

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,524 shares of company stock valued at $8,403,924. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. SVB Leerink assumed coverage on Align Technology in a research note on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. Stifel Nicolaus boosted their price target on Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, March 15th. The Goldman Sachs Group boosted their price target on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. Piper Sandler boosted their price target on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and a consensus target price of $334.45.

Align Technology Stock Up 0.8 %

Align Technology stock opened at $320.06 on Tuesday. The firm has a market cap of $24.04 billion, a price-to-earnings ratio of 54.99, a price-to-earnings-growth ratio of 5.72 and a beta of 1.65. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20. The business’s 50-day moving average price is $307.01 and its 200 day moving average price is $269.07.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. Equities analysts expect that Align Technology, Inc. will post 7.65 EPS for the current year.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.